Mr. John McCarthy:

We have published a number of sectoral impact papers. The piece that was covered most was the impact on the economy more generally of different scenarios, for example, a soft exit or a WTO-type arrangement. I can show the Deputy the simulations after the meeting. We have put this in the public domain but for the information of the committee, if we were to have a WTO-type situation it would take about four percentage points off the level of GDP, so the economy will grow but not at the same pace. This is relative to baseline. It would reduce the level of employment by about two percentage points, with a mirror image increase in unemployment, and would add approximately one percentage point to the deficit every year so that over a ten-year framework the debt ratio would be up by about ten percentage points. We carried out that analysis. We do not know which scenario is most likely at the moment, but we have looked at the three different scenarios.